Comment

Comment by Kent Dills on April 7, 2010 at 12:05pm

Christian, it's normally a good thing when they ask to look at the listing history. It sounds like in your case you're going to be able to show them that you actually had it listed in the MLS and have given them the best offer that the market would bear. Otherwise, they think you might have "pocketed" the listing and you're giving them an offer from one of your investor buddies without "seasoning" it on the MLS. So, if you've actively marketed it, you've got no problems my friend! You'll just be giving them the data they need to make an easy/good business decision!

Comment by Rob McGarry on April 6, 2010 at 4:59am

Before you go any further, get a new listing signed with a higher commission. Make sure you DO get paid!
Sending everything to the exec team will just get a you a call from Josh. He's the guy who makes things happen. You might save some time by just calling him, or at least leaving him a message first.
Good luck!

Comment by Rob McGarry on April 6, 2010 at 4:31am

Christian,

Here's all you need:

Josh Coykendall at Ocwen Loan Svcing 866-779-8080 - that's a direct line. He returns all the messages left for the execs and keeps you out of India.

Josh won't give you his e-mail address but his direct fax is 561-682-8160.

If you want to e-mail your package, try sending to [email protected] He's not quite as helpful as Josh, but better than most. His direct line is 561-682-7000 ext 64723

You can also contact the office of the consumer advocate at Ocwen:
Ombudsman contact: Rob Kaltenbach Sr. Manager Consumer Ombudsman Office of the Ombudsman & Loan Surveillance Ocwen Loan Servicing, LLC 407-737-6205 direct line. They can make anything happen, including removing recourse from a loan.

I am in CA and just got mine approved and closed in less than 30 days. It can be done, but you have to be creative and persistent.

Comment by Kent Dills on April 6, 2010 at 4:09am

Sounds like it's going to be business decision on your part then Christian. Is it worth it to you (is the potential commission large enough) to bang your head against the OCWEN wall.
One of the things that's making working with OCWEN so difficult, is they have outsourced/offshored lots or all of their customer service/phone team!

Comment by Christian Medina on April 6, 2010 at 4:00am

Thanks Kent,
The seller and I called on two different occasions asking for the SSA under the HAFA program and the reps were clueless. My client (seller) did try to modify last year under HAMP and was decined. At this point he has already moved out and is almost at the point where he will just let the property foreclose.

Comment by Kent Dills on April 6, 2010 at 3:35am

Christian, if they are voluntarily part of the HAMP program, then they are part of the HAFA program too! HAFA is just a subset or part of HAMP. HAFA extends "graceful exit" strategies to folks who don't qualify for HAMP for one reason or another, or who've decided that because of relocation due to job transfer, etc., a short sale is more appropriate than a loan mod.
Good luck with OCWEN, they are right up there with B of A as far as being difficult to get things done with.

Comment by Christian Medina on April 6, 2010 at 3:11am

I've had the same problem that Tasha Griffin from The Real Estate Group described in an earlier post. At the beginning and after emailing and faxing the short sale package a total of 8 times. It took them 17 days before they could confirm they had recieved the package. Aftter hearing that the package was approved then it wasn't apporved several times within the last 4 months, they had me resubmit the package again. The only thing they keep telling me is that it is waiting on special investor approval. Ocwen has the 1st and 2nd mortgage on this file. Does anyone know a person I can contact to discuss my issue? I've called the coporate office and have left messages, but no one ever calls. Would the EVP contact be able to help? Is Ocwen part of the HAFA program? They are part of HAMP, but when I called yesterday to find out about HAFA, the reps were clueless.

Comment by James ferebee jr on March 21, 2010 at 7:00am

I posted the EVP of OCWEN
I left him a V.M. and had an approval within 2 weeks...

Jim

Comment by David Dee on February 7, 2010 at 6:13am

I'm not an attorney or cpa but from what I understand in CA, if the property is a purchase money the bank cannot go after for borrower for the deficiency even when there is a 1st and 2nd (as long as this is not a heloc). The lender may ask for the deficiency in the approval but it would be applicable for recourse loans where they can actually pursue. Whether or not they pursue this is another story. This is one of those gray areas.

Comment by Kent Dills on February 7, 2010 at 4:54am

David, I think that would be a discretionary thing since the program is voluntary (if I understand it correctly).

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